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August non-farm payrolls rose just 22k, well below the 75k consensus; three-month average is now 29k. The unemployment rate rose to 4.3%, breaking above its range of the last 15 months/ Payrolls also softened between the July and September 2024 FOMC meetings, resulting in a 50bps cut, Standard Chartered’s economists John Davies and Steve Englander report. From ‘solid’ to soft in less than six weeks”The US labour-market report for August was softer than expected. Headline non-farm payrolls rose just 22k, versus the 75k consensus. Average weekly hours and y/y hourly earnings were also below consensus, and the unemployment rate rose…

Silver consolidates near $41.00, holding just below its 14-year peak with bullish structure intact.US NFP miss fuels Fed cut bets, dragging the US Dollar and Treasury yields lower.Markets price in 88% chance of a 25 bps Fed cut and 12% odds of a larger 50 bps move this month.Silver (XAG/USD) is holding firm around $41.00 on Friday after retesting multi-year highs in the wake of soft US Nonfarm Payrolls (NFP) data. The metal peaked at $41.47 on Wednesday, its strongest level since September 2011, before easing slightly on Thursday. A broadly weaker US Dollar (USD) and falling Treasury yields after…

The Euro (EUR) strengthens on Friday against the US Dollar (USD), trading at around 1.1750 (+0.85%), as investors sell off the Greenback en masse following the publication of US employment figures.Looking at other currency pairs, the Euro is more stable against the Japanese Yen (JPY) (-0.1%) and Pound Sterling (GBP) (+0.1%), as traders look ahead to the German Industrial Production figures for July, to be published on Monday.The consensus is for a rebound of +1.3% month-on-month, following the sharp contraction of -1.9% in June, according to FXStreet’s Economic Calendar.For the Euro on the Forex market, the statistic represents an important…

The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which likely guarantees a Federal Reserve interest rate cut. Labor Department data showed that nonfarm payrolls increased by only 22,000 jobs last month, far short of the 75,000 positions estimated by economists polled by Reuters. The dollar fell across the board following the report. It weakened 0.99% to 147.03 against the Japanese yen, but was still on track for the second straight week of gains. The greenback dropped 0.99% to 0.7998 against the Swiss franc and…

The Governing Council kept policy on hold in July, and is likely to remain on hold at the September meeting and for the foreseeable future, ABN AMRO’s economists Nick Kounis and Bill Divney report. ECB is ‘well positioned’ to face the upcoming tariff impact and uncertainty”President Lagarde has said that the ECB is ‘well positioned’ to face the coming period of tariff impact and uncertainty. Despite the expected undershoot of the 2% inflation target, the GC seems minded to look through this on the expectation that inflation will return to target in 2027. Although the ECB’s inflation projections in June…

USD/CAD steadies near 1.3800 after rebounding from a four-day low.Canada shed 65.5K jobs in August, unemployment rose to 7.1%, boosting BoC rate cut bets.US NFP showed only 22K jobs added, with unemployment at 4.3%, dragging the US Dollar and Treasury yields lower.The Canadian Dollar (CAD) weakens on Friday after dismal labor market data, but broad US Dollar (USD) softness following a weak US Nonfarm Payrolls (NFP) report kept USD/CAD’s upside in check. The pair is holding near the 1.3800 handle, rebounding from a four-day low in the aftermath of the release.Canada’s economy shed 65.5K jobs in August, marking the steepest…

The Japanese Yen (JPY) is up against the US Dollar (USD) on Friday, with the USD/JPY pair edging lower and trading at around 147.25 following the publication of US employment figures.The Japanese currency rallied slightly, benefiting from a weaker USD, but it remains trapped in a climate of uncertainty.Investors are looking ahead to Monday’s internal vote of the Liberal Democratic Party (LDP), which could pave the way for a new leadership contest and threaten the position of Prime Minister Shigeru Ishiba.Meanwhile, markets continue to scrutinize signals from the Bank of Japan (BoJ), as rising wages and stubborn inflation maintain expectations…

The GBP/USD price analysis indicates caution ahead of the US monthly employment report. Economists predict a 75,000 US job addition in August. Experts believe yields will remain elevated. The GBP/USD price analysis indicates caution ahead of the US monthly employment report. Meanwhile, the dollar remains fragile after more downbeat jobs figures on Thursday. On the other hand, worries about the UK’s fiscal health have kept pressure on the pound. The US will release its crucial employment report later in the day. Economists predict an addition of 75,000 jobs in August. Meanwhile, the unemployment rate could come in a 4.3%. If…

The Indian rupee slid to yet another all-time low on Friday, touching 88.36 mark against the US dollar. The depreciation came on the back of persistent foreign portfolio outflows and growing unease over the resurgence of global trade frictions.“After already slapping steep tariffs on Indian goods, fresh buzz in the market suggested that the US could be mulling curbs on IT services, outsourced processes, and remote work. While unconfirmed, such speculation rattled traders, given the crucial role of services exports in cushioning India’s current account,” says Amit Pabari, MD at CR Forex. Adding fuel to the fire, US President Donald…

The Indian rupee hit a lifetime low on Friday, pressured by worries over U.S. tariffs, leaving traders on edge even as likely central bank intervention helped limit losses. The Asian currency fell 0.14% to 88.2650 against the U.S. dollar, from 88.1450 in the previous session. Friday’s move ended a volatile week, during which the rupee largely stayed below the 88-mark, weighed down by persistent portfolio outflows and U.S. tariff-related uncertainties.Washington imposed a 50% tariff on key Indian exports from August 27 over what the White House sees as India’s opportunistic purchases of cheap Russian oil. The rupee, which slipped past…